Litecoin is undoubtedly one of the biggest and most promising blockchain projects.
As the sixth largest blockchain project by market capitalization, Litecoin (LTC) is one of the most favored coins for almost anyone looking to invest in a blockchain project.
Here’s our pick for the top 5 ways to earn free Litecoin
Litecoin Margin Trading
Margin trading is one of the most common methods of earning free cryptocurrencies. This method is cost effective and requires a high level of analysis and skills.
Once a trader is successful in these, he can trade in the margin market with LTC and earn free Litecoin daily.
Some margin markets offer lending services. The brokers of these firms lend LTC to the willing traders to make trades (short-term or long-term).
At the end of the stipulated time the investor pays back the amount borrowed with an interest (in some cases), what is left of the profit belongs to the trader. Most firms that offer this service often demand collaterals.
Lend Your Litecoin (LTC)
Litecoin features peer to peer network just like Bitcoin which means that Litecoin HODLers can lend their LTC out on lending platforms, an expect interest returns of up to 20% depending on the lending platform.
While it may require LTC to begin, after lending, the individual necessarily does nothing, just his money working to earn more money for him.
Crypto lending is still highly unregulated, so lenders are advised to carefully chose the platforms they pick for lending, and to whom they lend their digital assets to lend.
It is also important to adhere to the policies of the lending platform you choose for smooth transactions.
A Litecoin faucet is a reward system in form of websites or applications.
These Litecoin Faucets dispense rewards to visitors or users who claim them by completing tasks on the platform, as described by the website.
Faucets are a great way of earning Litecoin daily but is usually time consuming and hectic.
Some well-known faucets for earning free LTC include; QoinPro, MoonLitecoin, Earncrypto and the likes.
There’s also the risk of using scam faucets, so we advise crypto enthusiasts looking to earn free LTC using this method to confirm the authenticity of the faucet platform before registering or beginning a task.
In Addition: Micro wallets like Coinpot can be used to collect and combine faucet payouts from different faucets.
Some micro wallets also support multiple cryptocurrencies for those looking to earn more than just Litecoin.
Short Litecoin (LTC)
To short Litecoin means to buy and sell Litecoin within a relatively short time to make a profit out of it.
Earning free LiteCoin by shorting would require capital in form of LTC, and the ability to predict when the crypto market will enter the next major bullish market.
This method is similarly risky given the volatile nature of the crypto market.
HODL Litecoin (LTC)
Quite the opposite of shorting Litecoin, buying and HODLing Litecoin for the long term may turn out to be the most profitable of all the methods of earning free Litecoin.
While this method is a risk and uncertain, the promising nature of the Litecoin project could easily double or triple the value of the coin over a year or less.